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Information technology (IT) services are services used by organizations to create, manage, and deliver information, next to assisting with other business functions. Services include consulting, software development, systems integration, as well as hardware deployment and education. As a whole, the broader market for IT services is made up of several segments, including outsourcing, managed services, security services, data management, and cloud computing.
Generally, the profitability of companies in the industry depends on their ability to innovate their services and grow their technical expertise. Indeed, both smaller and larger companies can compete in this industry: larger companies offer broader services and have a global reach, while smaller companies tend to position themselves in niche markets and tailor their offerings more specifically to customers’ needs. The most substantially growing segment of IT services is cloud computing which drives IT-related innovation.
it spending worldwide 2021
3.92tr USD
global IT services spending worldwide 2021
1073bn USD
largest market for IT & business services
The Americas
- Overview
- Industry Insights
- Market size
- Market segments
- Industry trends
- Industry leaders
- Unique aspect of the industry
- State of the Industry
- Industry Definition
Industry Insights
Report on the topic
Market size
IT services market expected to grow due to digitization trends
Information technology (IT) services and business services revenue from 2017 to 2025, by region (in billion U.S. dollars)
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The IT services market is a strong and growing market in the global IT industry. In the long run, IT services will continue to be an integral part of a wide variety of industries and businesses as the products and services on offer facilitate and accelerate digital transformation. Moreover, the impact of COVID-19 on work environments emphasized the global need for reliable IT infrastructure and services to enable hybrid work models to succeed.
Market segments
Cloud computing is the strongest growing segment
Cloud services market spending by segment worldwide from 2015 to 2022 (in billion U.S. dollars)*
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The broader market for IT services comprises several segments, including managed services, security services, and cloud computing. The most substantial growth segment is cloud computing, which relates to the use of remote servers and networks to manage and process data. Furthermore, the delivery of IT resources via the internet diversifies the deployment and service models available to organizations, leading to improved efficiency levels.
Industry trends
Edge computing driving the decentralization of data processing
Edge computing market revenue worldwide from 2019 to 2026 (in billion U.S. dollars)
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A major industry trend is a shift toward edge computing, where information processing is located near the source of the data as opposed to a centralized location. Therefore, edge computing is advantageous because devices can function efficiently without being connected to the greater network. Revenue growth in this segment is driven by a growing number of companies across multiple industries that are starting to implement edge computing technologies, accelerating innovation.
Industry leaders
IBM and Accenture are the IT services market leaders
Ranking of IT services companies worldwide in 2023, by brand value (in billion U.S. dollars)
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IBM, Accenture, and Amazon Web Services (AWS) are among the most important companies in the IT services industry. These global industry leaders strive to offer flexible operating models and various services tailored to their customers’ needs. More recently, IT services companies have shifted their focus from providing services only to adopting a more holistic approach and becoming their customers’ business partners.
Unique aspect of the industry
IT services accelerating collaboration and remote work
Frequency of working remotely in 2020
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A unique aspect of the IT services industry is its ability to enable collaboration from different locations, including working remotely. IT services provide the infrastructure and tools to enable hybrid work models and collaborative platforms. These tools and services have recently experienced an extraordinary surge in demand. This trend underscores and accelerates the development of digital transformation in the work environment in general.
Work from home & remote work
Digital transformation
IT budgets
Industry Definition
The IT services industry comprises various services and products that help organizations manage and optimize their information and business processes. The broader IT services market includes managed services, security services, data management, and cloud computing. Statista provides a wide range of information on global and regional IT services markets, including data on industry trends and segments, as well as financial metrics and forecasts.
More interesting topics from the industry "IT Services"
More interesting topics from the industry "IT Services"
Cloud
- Amazon Web Services
- Cloud computing in Europe
- Cloud computing in Italy
- Cloud computing in South Korea
- Cloud computing in the Asia-Pacific region
- Cloud computing in the United Kingdom (UK)
- Cloud financial management
- Cloud native
- Customer relationship management in France
- Deep learning
- Digital twin
- Enterprise software in France
- Google Cloud
- IBM
- Industry cloud in the U.S.
- Machine learning
- Microsoft Azure
- Microsoft Copilot
- Platform as a Service (PaaS)
- Python
- Serverless
- ServiceNow
- Software as a Service (SaaS)
- Software industry in Latin America
- Virtualization
Consulting & Implementation
Security
- Artificial intelligence (AI) in cybersecurity
- Biometric technologies
- Bitdefender
- Business IT security in the UK
- Cyber crime in Latin America
- Cyber security in Australia
- Cyber Threat Intelligence (CTI)
- Cybersecurity
- Cybersecurity and cybercrime in Indonesia
- Cybersecurity and cybercrime in Singapore
- Cybersecurity and cybercrime in the Asia-Pacific region
- Cybersecurity skills gaps
- Identity and Access Management
- Information security in Japan
- Palantir Technologies Inc.
- Passkeys
- Password security
- Password security in the United States
- Passwordless security
- Security & surveillance technology
- Security software
- Zero Trust
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